California Estates: Inheritance Loans vs. Probate Advance Assignments

May 10, 2022

If you’re an Heir of an Estate in Probate or Trust in California, you need to make sure your attorney is fully aware of all new Probate Laws. If you are looking to get fast, affordably priced inheritance cash advance funding with an inheritance advance or probate advance – you’ll want to choose your estate advance, inheritance advance funding company carefully…

Inheritance Advance Funding and “Probate Loans” in California

Many heirs in California prefer to get an advance on inheritance from their parents, while their parents are still living. In California, people tend to be family oriented, therefore getting an advance on inheritance from ones’ parents is yet another friendly bonding experience, sharing an important event together. And if parental inheritance cash advance funding, so to speak, doesn’t work out before the parents pass on, heirs in California will frequently borrow against inheritance to get inheritance advance funding, an advance inheritance, or probate advance, from a probate cash advance company instead of getting it from their parents while they were still alive – perhaps one of the faster inheritance cash advance funding companies, possibly offering a 72 hour probate cash advance, most likely what many heirs perceive as the best inheritance advance funding available – which for heirs generally means the most inexpensive inheritance advance funding available compared to other online inheritance cash advance companies.

How Do You Get Inheritance Advance Funds in California?

Even though the probate process in California is slow, there are ways to access your inheritance funds in California sooner. The process is quite simple and secure with reliable inheritance advance funding, from an established probate cash advance firm. In fact, most heirs receive inheritance money from My Inheritance Cash within a few days, from start to finish. There are no up-front fees or hidden charges, and absolutely no obligations to get an advance quote; plus no monthly payments or compounding interest, no credit report or credit score is required. Rather than waiting years to be able to access some inheritance money, or probate cash, you wait only days with My Inheritance Cash.

How Do You Get Approved For a Probate Cash Advance, or What Heirs Refer to as an “Inheritance Loan” in California?

Paperwork requirements are relatively simple. First of all, you need a valid Photo I.D., you need documentation and proof of your status as an heir of the estate in California, as well as proof of all the inheritance assets you are inheriting, documentation regarding all estate assets, and how much you will be receiving in total as an inheritance; plus the amount you are requesting as an inheritance advance (what many heirs and even attorneys refer to as “estate loans”, “inheritance loans” or “probate loans” despite the fact that what you are actually requesting is, to be technically correct, an inheritance cash advance assignment) – inheritance money that most likely will show up in your bank account within two or three days, should you request a bank wire, which is what most heirs request.

In Which California Counties Are Inheritance Advances Available?

Inheritance advance transactions are available in all counties in California. For heirs of California estates, discounted estate cash advances, or probate advances with standard pricing – any level of inheritance cash advance funding – is usually available without a great deal of effort on the part of heirs of estates in probate, or trust fund beneficiaries.

How Do You Know If You Qualify for Inheritance Advance Funding?

It does not take a long time to figure out if you qualify for inheritance cash advance funding, for an inheritance advance, probate advance or an estate advance in California. In addition to relevant documentation, you must be an heir to an estate in the United States, or Canada, over the age of 18, with an inheritance valued at $12,000 or more. Once you qualify, and actually receive advance inheritance money, you can, as a valid heir to the estate, use probate advance cash or inheritance advance funds as you see fit, in any way you wish.

Typically, the key issue for most heirs in California is what the true value of their inherited real estate might be, plus whether or not they can get approved for inheritance advance funding, based on liquid assets or real property, from a relatively low-cost inheritance cash advance or estate advance company, or even several estate advance companies or inheritance advance companies – bottom line, an inheritance advance service or probate cash advance company that offers affordable rates, as compared to other similar online probate advance services – basically providing advance inheritance funds that would normally be construed as “fast inheritance cash advance funding”, or at least, as fast as possible, given specific estate circumstances. Typically, inheritance advance funding takes no more than a day or two, sometimes as much as three days – so the speed factor is rarely an issue for heirs these days.

These are the type of questions that most heirs of estates in California ask themselves, prior to entering into a probate advance or inheritance advance agreement with an inheritance advance funding company, an established probate advance provider such as My Inheritance Cash, whose inheritance cash advance transactions are carefully structured so that heirs can access inheritance money as quickly as possible, usually within a day or two – or at the most, with a 72 hour probate cash advance, before probate closes, so heirs can use the money as they wish, within a relatively rapid timeframe… Making it possible, for example, to hire their own personal estate lawyer (if that is a desired outcome); or to invest in certain immediate financial opportunities that are available only for a brief period of time; to pay for critical or essential medical services that may be needed immediately… Or to pay off debts; even to resolve a foreclosure. Certainly not unheard of these days for middle class families. There is, in fact, no end to the reasons heirs may have, with which to use advance inheritance money for.

Are California Inheritance Cash Advances “Cash Assignments”, or are they Inheritance Loans, Estate Loans, or Probate Loans?

Often Cause for Confusion Among Beneficiaries & Heirs of Probate Estates. It’s worth noting that an inheritance cash advance assignment in California is not really an interest bearing loan, therefore there is no risk of recourse for non-payment. Heirs, clients of inheritance cash advance funding companies, are not personally responsible for repayment, which heirs obviously are happy with. Consumers will often refer to inheritance cash advance assignments as inheritance loans, inheritance advance loans, probate loans, estate loans, or heir loans from inheritance lenders… however, it’s important to note the difference – clients of inheritance advance funding firms do not technically “borrow against inheritance”; and they do not “get a loan on inheritance.” Inheritance advance companies or probate cash advance companies do not technically provide inheritance loans, probate loans or estate loan service to clients. Their probate cash advance service is actually providing non-interest bearing, non-recourse, inheritance cash advance assignments. Generally fast inheritance advance assignments. Technically not “personal loans”, for example, such as you would receive from a standard bank or credit union.

Inheritance Laws in California

Although many states organize real estate inherited from an estate based on who actually owns the inherited house or real property, California has particularly complex community laws, with respect to married couples, as well as separate property laws – which further complicate certain activities for married couples residing in California – whether they are married or divorced, it still applies similarly.

Does California Have an Inheritance Tax or Estate Tax?

California residents are not required to file for state inheritance taxes. The state’s government abolished the inheritance tax in 1982. Moreover, there is also no estate tax in California. Although the state of California does not impose state taxes, there are other taxes you should be familiar with, such as:

Final federal & state income tax returns – impose a deadline which is the tax day of the year following a person’s death
Federal estate tax return – are due 9-months after a person’s death, however an automatic 6-month extension may be used if requested before the end of the 9-month period
As of 2018, federal tax only affects estates that exceed a gross asset and prior taxable gift value of $11,180,000
Federal estate and/or trust fund income taxes – are due by April 15th of the year following a person’s death

Dying With a Will (Testate) in California

If you pass away with a valid will in California, execution of that will is usually a simple matter, as long as all the usual necessary elements are included – aside from listing all the heirs, or beneficiaries – and frequently with the help of an experienced estate attorney, and/or a financial advisor, or tax attorney, or an accountant… to make sure all the necessary items are in place, depending on what the client is looking to build into his or her will. Moreover, there may be complex real estate or numerous houses, possibly in more than one state, to be left to heirs. There may be a guardian for children under the age of 18; or even conservator issues addressed in the will – or any number of other issues, as the case may be. Hence, the realistic need for, at the very least, for an experienced estate attorney. Trying to write and execute a will with an online template, without expert assistance, is very risky. You can leave wide, unfortunate gaps in planning that often come back to haunt heirs years later.

Valid wills have clear direction concerning how an executor or personal representative should administer the estate, liquid assets, investment accounts, real property, etc. However, in California the size of the estate determines how involved the court will be. An estate valued at $150,000 has to file for probate, as far as California inheritance laws are concerned. This includes the value of a respective life insurance policy, retirement benefits paid out to a beneficiary, or beneficiaries, of the policy (or policies), real estate, valuables, personal property such as antiques, artwork or jewelry, at the time the decedent passes away. A California probate court always wants to insure that the decedent’s wishes for heirs are carried out properly and accurately.

On the other hand, one can avoid a long probate court process with estate that are valued under $150,000. As long as 40 days or more pass after decedent’s death, California actually allows an estate to file an Affidavit for Transfer of Personal Property, which is notarized and included with the deceased’s death certificate, I.D. documents, and signatures of other heirs, if there are other heirs. Once this paperwork is organized, it is generally given to the person, bank or company that owns or possesses the property.

Dying Without a Will in California

When someone dies in California without having written a will, a lot of issues often arise once their case reaches probate court, and goes through the probate process. As far as California law is concerned, this type of estate would be classified as “intestate”, where the heirs are chosen by the probate court, governed by “California intestate succession laws”. Based upon who has survived the decedent, the heirs and the estate would be divided among spouse, children, possibly step-children, parents, grandparents, siblings, cousins, aunts, uncles, nieces and nephews. That’s the law in California.

The intestate process does not only concern heirs with no will. This applies to anyone without a valid will. Hence, the necessity of taking the will and the estate through the probate process. Technically, you are a legal heir under California “intestate succession laws”, only if you have outlived a decedent by at least 120 hours. If this is not the case, an heir’s estate will not receive inheritance assets or property.

Basically, California inheritance laws exist purely to cover all the legal bases for an estate – to safeguard, secure and manage estates inherited by folks who have passed away “intestate”. While probate court organizes and manages exactly how an estate will be divided among heirs, a California state appointed executor carries out the court’s rulings, takes care of estate expenses, and pays outstanding debts and liabilities.

Inheritance Laws Regarding Community Property in California

California is known as a community property state, meaning it upholds specific laws and policies regarding property between spouses and domestic partners. Under these laws, all property acquired during marriage is known as joint (community) property, meaning both spouses/persons are the owner of, and liable for, their half of property.

Other property, such as gifts, inheritance assets, etc, are known as community property.

In California, quasi-community property is property obtained prior to living in California, and is treated as if it were community property.

Separate Property Inheritance Law in California

Separate property is property that you received before you were married, or following divorce. Separate property is sub-sectioned into two categories – real property, and personal property. Real property is real estate or land you own, plus anything affixed to it, such as a house. On the other hand, personal property more or less covers anything else considered movable.

Inheritance Laws Concerning Spouses in California

In California, a spouse is entitled to the deceased’s entire estate if the deceased had no children. If the deceased had children, the surviving spouse will inherit all community property, and either (a) 1/2 of all separate property, if there was only one child or grandchild, or (b) 1/3 of all separate property, if there were two or more children or grandchildren, or surviving grandchildren of at least two children. Where there are surviving parents, or surviving siblings but no parents, the spouse will inherit all community property and half of all separate property.

In California, common law marriage is not considered legitimate, unless it was granted in another State, in which case a Probate Court will determine its validity.

Children and Inheritance Law in California

In California, biological and legally adopted children have the first/most inheritance rights. Grandchildren are entitled to inherit their parent’s (the deceased’s child’s) share of an Estate if said parent pre-deceased the decedent.

Any child born in wedlock, or during a domestic partnership, is assumed to be your child. Similarly, so long as you are found to have treated a child like your own (acknowledged the child and provided for its care, including Step and Foster children), that child can claim a right to your Estate.

Children conceived before, but born after, your death, are considered legitimate heirs. Likewise, a child conceived with your genetic material within two years of your death, is eligible to receive a portion of your Estate, so long as you gave consent for the genetic material to be used.

Inheritance Law in California for Persons With No Relatives

In California, Intestate Succession Law is designed for your Estate to go to members of your family. Only in the rare occurrence of a decedent leaving no surviving kin, will an Estate escheat to the State of California.

Non-Probate Inheritance Assets in California

Some assets, property, etc are not required to enter Probate; namely, those that name a beneficiary, such as life insurance policies or payouts, retirement accounts, pay/transferable on death accounts, etc. When the decedent had put the Estate as a beneficiary, assets are added to those in the Estate.

Additional Inheritance Law in California

In California, full and half blood relatives are equitably eligible to receive a share of your property. Relatives conceived before, but born after, your death, are considered legitimate heirs, so long as they survive you by 120 hours. Citizenship/Residency do not affect one’s eligibility to inherit from an Estate in California. An heir who feloniously and intentionally causes you to die is ineligible to receive his/her share of your Estate.

Resources: Click Here for a California Inheritance Advance or Probate Advance Representative

Inheritance loans or probate assignments, whatever you choose to call this type of inheritance financing, are easily available in California from any inheritance funding company.

Inheritance Funding, Inheritance Loans or Probate Assignments in California

How Do You Get Approved For a Probate Cash Advance, or What Heirs Refer to as Inheritance Loans or Probate Assignments in California?

Paperwork requirements for so-called inheritance loans or probate assignments are relatively simple. First of all, you need a valid Photo I.D., you need documentation and proof of your status as an heir of the estate in California, as well as proof of all the inheritance assets you are inheriting, documentation regarding all estate assets, and how much you will be receiving in total as an inheritance; plus the amount you are requesting as an inheritance advance (what many heirs and even attorneys refer to as estate loans, probate loans, inheritance loans or probate assignments, despite the fact that what you are actually requesting is, to be technically correct, not a loan, it\’s an inheritance cash advance assignment) – inheritance cash that most likely will show up in your bank account within two or three days, should you request a bank wire, which is what most heirs request.

In Which California Counties Are Inheritance Advances Available?

Inheritance advance transactions are available in all 58 counties in California. beneficiaries.

How Do You Know If You Qualify for Inheritance Advance Funding?

It does not take a long time to figure out if you qualify for inheritance cash advance funding, for an inheritance advance, probate advance or an estate advance in California. In addition to relevant documentation, you must be an heir to an estate in the United States, or Canada, over the age of 18, with an inheritance valued at $12,000 or more. Once you qualify, and actually receive advance inheritance money, you can, as a valid heir to the estate, use cash from so-called inheritance loans or probate assignments just as you see fit, in any way you wish.

Are California Inheritance Cash Advances Inheritance Loans or Probate Assignments, Estate Loans, or Probate Loans?

Often Cause for Confusion Among Beneficiaries & Heirs of Probate Estates. It’s worth noting that so-called inheritance loans or probate assignments in California are not really interest bearing loans, therefore there is no risk of recourse for non-payment. Heirs, clients of inheritance cash advance funding companies, are not personally responsible for repayment, which heirs obviously are happy with. Consumers will often refer to inheritance cash advance assignments as inheritance loans or probate assignments… however, it’s important to note the difference – clients of inheritance advance funding firms do not technically “borrow against inheritance”; and they do not “get a loan on inheritance.” However you refer to these cash advance assignments, whether as inheritance loans or probate assignments – Inheritance advance companies do not technically provide inheritance loans or estate loan service to clients. Their probate cash advance service is actually providing non-interest bearing, non-recourse, inheritance cash advance assignments. Generally fast inheritance advance assignments. Technically not “personal loans”, for example, such as you would receive from a standard bank or credit union.

Inheritance Laws in California

Although many states organize real estate inherited from an estate based on who actually owns the inherited house or real property, California has particularly complex community laws, with respect to married couples, as well as separate property laws – for married couples residing in California, married or divorced, it all applies the same way. Click Here for more facts about California Inheritance Law…

Does California Have an Inheritance Tax or Estate Tax?

California residents are not required to file for state inheritance taxes. And there is also no estate tax in California. Although the state of California does not impose state taxes, there are other taxes you should be familiar with, such as:

Final federal & state income tax returns – impose a deadline which is the tax day of the year following a person’s death
Federal estate tax return – are due 9-months after a person’s death, however an automatic 6-month extension may be used if requested before the end of the 9-month period
As of 2018, federal tax only affects estates that exceed a gross asset and prior taxable gift value of $11,180,000
Federal estate and/or trust fund income taxes – are due by April 15th of the year following a person’s death

Dying With a Will in California

Dying Without a Will (Intestate) in California

When someone dies in California without having written a will, a lot of issues often arise once their case reaches probate court, and goes through the probate process. As far as California law is concerned, this type of estate would be classified as “intestate”, where the heirs are chosen by the probate court, governed by “California intestate succession laws”. Based upon who has survived the decedent, the heirs and the estate would be divided among spouse, children, possibly step-children, parents, grandparents, siblings, aunts, uncles, cousins, nieces, and nephews. That’s the law in California.

Resources: Click Here for a California Inheritance Advance or Probate Advance Representative

Categorised in: State Inheritance and Probate Law